Key Highlights
- Oil prices jumped sharply, with Brent crude increasing by 9% to $79.42 per barrel.
- U. S. and Israeli strikes on Iran are causing fears of prolonged disruptions in oil supply.
- The Strait of Hormuz, a critical passage for global oil, is under threat from ongoing conflict.
- Market reactions indicate concerns about a significant supply shock in the near future.
- Analysts had expected immediate price increases as trading resumed following military actions.
